Chinese investment in Brazil surged by 33% in 2023, reaching a total of US$1.73 billion, according to a recent study released by the Brazil-China Business Council (CBBC). Despite a slight decrease in the number of confirmed Chinese projects—from 32 in 2022 to 29 in 2023—this year marked the third-largest investment volume since 2007. A significant … Read more
Sanergy Group, a company specializing in graphite products, saw its stock collapse by 98% on Tuesday following a stark warning from Hong Kong’s securities regulator regarding the company’s ownership structure. The Securities and Futures Commission (SFC) alerted investors to the risks associated with Sanergy’s highly concentrated ownership, where 90.2% of its shares are held by … Read more
Hong Kong — The ongoing downturn in Hong Kong’s property market is compelling property owners to offer steep discounts on assets, with The Connaught hotel in Sai Ying Pun becoming one of the most prominent examples. The 29-storey, 52-room hotel, which lies adjacent to Central’s core business district, is now being offered at HK$600 million … Read more
Alibaba Dual-Primary Listing Boosts Investor Access Introduction to Alibaba’s Dual-Primary Listing Alibaba Group Holding will switch its listing status in Hong Kong to a dual-primary listing. This strategic move allows mainland China’s 220 million stock investors to invest in the tech giant’s shares. Starting August 28, 2024, Alibaba’s shares will be available through the Stock … Read more
Surge in China Service Consumption Drives Economic Growth This summer, China’s economy received a substantial boost, largely fueled by a surge in China Service Consumptionacross various sectors such as tourism, entertainment, and sports. This trend highlights the growing importance of China Service Consumption in driving the nation’s economic development. Expanding Cultural and Tourism Events The Ministry of Culture … Read more
Xiaomi EV Revenue Surges to 6.4 Billion Yuan Xiaomi has reported a significant revenue increase from its electric vehicle (EV) division. In Q2 2024, Xiaomi’s EV revenue reached 6.4 billion yuan (US$897.8 million). This growth underscores the company’s efforts to scale production and meet its ambitious goals for the SU7 sedan. The Beijing-based tech giant … Read more
New Air Taxi Service Connects Shanghai and Kunshan On August 18, a new interprovincial low-altitude passenger transport route opened, connecting Shanghai Pudong International Airport with Kunshan City Terminal in Jiangsu province. This service significantly reduces travel time between these two key locations. Shanghai Newsky Helicopter Co. operated the inaugural flight, which departed from Kunshan at … Read more
Mercedes-Benz China Investment has partnered with ByteDance‘s cloud services unit, Beijing Volcano Engine Technology, to advance AI-driven smart cockpits. The collaboration will explore cutting-edge technologies, including large language models (LLMs) and generative artificial intelligence (GAI). Together, they aim to push the boundaries of automotive innovation. Under the new agreement, the companies will enhance AI-driven smart … Read more
On-Demand E-Commerce Growth: Meituan Partners with Midea Chinese food delivery giant Meituan has launched a groundbreaking service, highlighting the rapid on-demand e-commerce growth in the industry. In collaboration with Midea, one of the world’s largest home appliance manufacturers, users can now order home appliances like refrigerators and dishwashers via the Meituan app and have them delivered within … Read more
JD.com profit increase soared by 92% year-on-year in the quarter ending June 30, reaching 12.6 billion yuan (US$1.7 billion). Despite slight revenue growth, this profit surge was due to enhanced operational efficiencies. These efficiencies helped the company navigate the competitive domestic e-commerce landscape. JD.com’s net revenues for the quarter rose by 1.2% to 291.4 billion yuan … Read more